SMARTER WORKING: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SMARTER WORKING
Largest movements
- Intangible fixed assets -€48,294
down €48,294 (-21.1%), from €229,200 to €180,905
- Receivables within one year -€22,026
down €22,026 (-77.9%), from €28,289 to €6,263
of which Other amounts receivable: -€21,748
- Profit (loss) carried forward -€233,784
down €233,784 (-71.4%), from -€327,486 to -€561,270
- Debts after one year +€185,000
up €185,000 (+33.8%), from €547,000 to €732,000
- Trade debts -€40,620
down €40,620 (-99.8%), from €40,706 to €86
- Other debts +€16,203
up €16,203 (+12.7%), from €127,368 to €143,571
- Gross operating margin -€239,439
down €239,439, from €78,599 to -€160,841
- Depreciation +€51,219
up €51,219 (+251%), from €20,405 to €71,625
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €416,515 | €343,467 | -€73,048 | -17.5% |
| Fixed assets | 21/28 | €380,729 | €332,445 | -€48,284 | -12.7% |
| Intangible fixed assets | 21 | €229,200 | €180,905 | -€48,294 | -21.1% |
| Tangible fixed assets | 22/27 | €151,529 | €151,540 | +€11 | 0.0% |
| Plant, machinery and equipment | 23 | €3,534 | €1,377 | -€2,157 | -61.0% |
| Furniture and vehicles | 24 | €31,432 | €22,923 | -€8,509 | -27.1% |
| Other tangible fixed assets | 26 | €116,563 | €127,240 | +€10,676 | +9.2% |
| Current assets | 29/58 | €35,787 | €11,022 | -€24,765 | -69.2% |
| Amounts receivable within one year | 40/41 | €28,289 | €6,263 | -€22,026 | -77.9% |
| Trade receivables | 40 | €278 | €0 | -€278 | -100% |
| Other amounts receivable | 41 | €28,011 | €6,263 | -€21,748 | -77.6% |
| Cash at bank and in hand | 54/58 | €4,891 | €2,995 | -€1,896 | -38.8% |
| Deferred charges and accrued income | 490/1 | €2,607 | €1,765 | -€842 | -32.3% |
| Total equity and liabilities | 10/49 | €416,515 | €343,467 | -€73,048 | -17.5% |
| Equity | 10/15 | -€300,788 | -€534,572 | -€233,784 | -77.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €6,698 | €6,698 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €264 | €264 | = | 0.0% |
| Distributable reserves | 133 | €4,434 | €4,434 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€327,486 | -€561,270 | -€233,784 | -71.4% |
| Amounts payable | 17/49 | €717,304 | €878,039 | +€160,736 | +22.4% |
| Amounts payable after more than one year | 17 | €547,000 | €732,000 | +€185,000 | +33.8% |
| Financial debts | 170/4 | €547,000 | €732,000 | +€185,000 | +33.8% |
| Amounts payable within one year | 42/48 | €168,729 | €144,259 | -€24,470 | -14.5% |
| Trade debts | 44 | €40,706 | €86 | -€40,620 | -99.8% |
| Suppliers | 440/4 | €40,706 | €86 | -€40,620 | -99.8% |
| Taxes, remuneration and social security | 45 | €655 | €602 | -€53 | -8.1% |
| Taxes | 450/3 | €655 | €602 | -€53 | -8.1% |
| Other amounts payable | 47/48 | €127,368 | €143,571 | +€16,203 | +12.7% |
| Accrued charges and deferred income | 492/3 | €1,575 | €1,780 | +€206 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,405 | €71,625 | +€51,219 | +251% |
| Other operating charges | 640/8 | €619 | €593 | -€26 | -4.2% |
| Gross operating margin | 9900 | €78,599 | -€160,841 | -€239,439 | |
| Operating profit (loss) | 9901 | €57,574 | -€233,059 | -€290,633 | |
| Financial income | 75/76B | €28 | €0 | -€28 | -100% |
| Recurring financial income | 75 | €28 | €0 | -€28 | -100% |
| Financial charges | 65/66B | €932 | €551 | -€380 | -40.8% |
| Recurring financial charges | 65 | €932 | €551 | -€380 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €56,670 | -€233,610 | -€290,280 | |
| Income taxes | 67/77 | €192 | €174 | -€18 | -9.5% |
| Profit (loss) for the period | 9904 | €56,478 | -€233,784 | -€290,262 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,478 | -€233,784 | -€290,262 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.